IIROC Brokers

Are there regulated binary options brokers in Canada?

Unlike many countries across the globe such as the United States, there is no federal financial or securities regulatory authority in Canada. In practice financial regulation in Canada is managed through legislation and regulatory bodies established in Canada’s 13 provincial and territorial governments. Each province (e.g. Ontario, British Columbia) has its own securities authority as well as its own legislation to manage the responsibilities and duties of the security authority. As a result, financial or security related companies that wish to do business in Canada may have to comply with laws that are unique to a specific province making the esthablishment of such a company difficult.

Because Canada does not have a federal regulator, most of the provincial bodies tasked with overseeing their respective financial markets operate under a system in which the approval of a financial regulator in one of the provinces allows for registration in another province. This is referred to as the “passport system”. However, this is not always the case as the Ontario Securities Commission, which governs financial activity in Toronto – Canada’s largest city, does not participate in this scheme.

Currently the Canadian government is working towards establishing a national securities commission with the aim of:

providing improved and more consistent protection for Canadian investors

improving the fight against securities related crime with better regulatory and criminal enforcement

supporting the Canadian financial system;

quicker policy response time to emerging market trends;

simplifying processes for businesses, lowering costs for investors

Are there IIROC Brokers?

In the vacuum created by a lack of a national securities commission to regulate the financial markets across Canada, self regulatory organizations (SRO) were founded to provide industry standards. The most authoritative self regulatory organization is the Investment Industry Regulatory Organization of Canada (IIROC).

Established through the merger of the Investment Dealers Association of Canada (IDA) and Market Regulation Services Inc. (RS) in June 2008, the IIROC oversees investment and trading on debt and equity marketplaces in Canada. It sets regulatory and investment industry standards with the aim of protecting investors and strengthening market integrity. However, it is important to note that it doesn’t have regulatory authority. IIRCO can, to a degree, enforce its standards on financial organizations and individuals involved with trading through quasi-judicial powers. It holds compliance hearings and can suspend, fine and/or expel members and registered representative.

How do I find regulated brokers in Canada?
For a binary options platform to be regulated in Canada, it needs to be approved by one of the thirteen Canadian Security Administrators. Generally, if the binary platform is approved by one of the Canadian Security Administrators, it will be automatically approved by the others except in the case of the Ontario Securities Commission. We have done this job for you and we present the regulated brokers above:

The Canadian Securities Administrators encourage all investors to review binary platforms credentials before they invest with any specific platform. Currently, there are not any binary options platforms registered with a Canadian Securities Administrator. This can always change in the future so make sure to follow our daily news for any updates.

Which binary options platform should I use?

There are many binary platforms around the globe which are regulated by major regulatory bodies including:

A binary options platform regulated and licensed by any of the above financial authorities, or similarly trusted official bodies from around the globe will offer an investor varying degrees of consumer protection as well as confidence and stability in the local market. For a full list of regulatory bodies as well as which binary options platform they regulate, I encourage you to review our regulation page.

One Comment

Rand Hill

It is not important to check the regulation of brokers operating in Canada. This type of investment is not regulated, it is not illegal and it is not legal, which means that everyone can do whatever he wants and there is no official entity supervising those companies